Bitquery Co-Founder Accused of Embezzling $5 Million from Company and Deleting Evidence Before Resigning

August 1st, according to the New York Post report, a blockchain entrepreneur is accused of embezzling over $5 million from his own company and deleting 194 expense records before abruptly resigning.

57-year-old Dionysios "Dean" Karakitsos is charged with draining Bitquery Inc. (a company that tracks cryptocurrency value and flow). The related lawsuit has been filed in the Supreme Court of Manhattan.

Karakitsos, the co-founder of the company, had served as CEO, director, and CFO until 2025. He is accused of funneling company funds into his personal accounts over the years. Karakitsos later operated a prediction market platform called Assymetrix.

In June, Bitquery filed a lawsuit seeking the return of at least $5 million allegedly stolen. The company stated that it is seeking additional damages to cover legal expenses.